Danske Bank analysts note that yesterday in the UK, a majority in the House of Commons passed an amendment making it harder for the government to prorogue Parliament in the run-up to the current Brexit date of 31 October.
Key Quotes
“While this does not prevent a no deal Brexit outcome (it is still the default option from a legal point of view), it makes it more difficult for Boris Johnson (assuming he wins the leadership contest) to force a no deal Brexit through by sending Parliament home.”
“Some 17 Conservative rebels voted against their own government (which did not include politicians such as Phillip Hammond), supporting our view that it is hard to find a majority for a no deal Brexit outcome.”
“We may soon have a more pro-Brexit prime minister but it does not change the arithmetic in the Commons.”
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